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Hello All,
We are getting married in June and would like to buy a house near Brookhaven in Suffolk county. Our budget is limited (under $200K). Trying to figure out what neighborhoods are good. We have noticed a lot of inventory in Shirley and Mastic but are wondering whether or not we'll get a return on our investment when we plan to sell 3-5 years down the line. What are the best neighborhoods and what is realistic for our budget? Thanks for any suggestions in advance!
Well you already mentioned the 2 towns where you can find something in your budget. And even though they are not considered to be desirable areas by many people there still aren't that many nice houses for under 200k. Most of the houses under 175k tend to be short sales or bank owned properties and can be quite the hassle to purchase.
There are houses to be had in Rocky Point and Sound Beach (thinking north of Brookhaven) for under $200K. You might do better in the long run there as opposed to Mastic and Shirley.
Why do you not just wait the 3-5 years to buy a house where you intend on staying? Do you really think the market is going to bounce back to a point where you will make money on selling your home in 3-5 years?
Hi thanks for the info all. I don't mind my waiting but my fiance wants a house now. We are honestly tired of renting and throwing money down the drain when we'd rather own. We are not sure we are going to stay here actually, beyond the 3-5 year time span. I think we can get some return if we find the right property, the question is how much of a return. I'm not an expert on the market and whether it's going to rebound. Egobop do you think it's all downhill?
I'll definitely take a look at Rocky Point and Sound Beach. We've already started looking and there are definitely some fixer-uppers out there.
My main concern is being in a good neighborhood. We want peace and quiet and while I understand that neighbors can sometimes be a hassle, it's nice to have good neighbors. My parents live in Nassau County and their neighbors sometimes even shovel the snow for them.
^^I understand where you are coming from about "throwing money away" on a rental but you also have to think about all the extra costs incurred with owning a home. I wouldn't count on any return in the next few years but you never know.
That's true there are extra costs. We are both professionals so not too worried.
Just need to find that gem. I found a couple in Lake Ronkonkoma for around or under $200K--that is a good neighboorhood correct?
Lake Ronkonkoma is okay (IMHO better than shirley/mastic anyway) but a $200k house in reasonable condition will be tough to find.
The other thing is that there is flooding in some areas, so keep that in mind when buying houses with basements.
There are houses to be had in Rocky Point and Sound Beach (thinking north of Brookhaven) for under $200K. You might do better in the long run there as opposed to Mastic and Shirley.
True OBH but some inventory under 200 is pretty rough in RP
(Like bulldozer rough or on a busy rd/powerlines etc.)
You may get slightly better buying power in Sound Beach
How about Ridge near Panamoka?
Hi thanks for the info all. I don't mind my waiting but my fiance wants a house now. We are honestly tired of renting and throwing money down the drain when we'd rather own. We are not sure we are going to stay here actually, beyond the 3-5 year time span. I think we can get some return if we find the right property, the question is how much of a return. I'm not an expert on the market and whether it's going to rebound. Egobop do you think it's all downhill?
I'll definitely take a look at Rocky Point and Sound Beach. We've already started looking and there are definitely some fixer-uppers out there.
My main concern is being in a good neighborhood. We want peace and quiet and while I understand that neighbors can sometimes be a hassle, it's nice to have good neighbors. My parents live in Nassau County and their neighbors sometimes even shovel the snow for them.
Solid neigborhoods with good schools.
Get the worst house with the largest property close to the water if youre looking to turn a short term profit.
The stuff thats being torn down and built near Soundview drive is stunning.
Crooks
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